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money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during this difficult time with the economy, the richest of the rich are going to have to pay a little more to
've spent a good deal of your career working on, mr. hall, has been the improvement of the american economy. and tonight i'd like to join a couple of my colleagues on the democratic side to talk about the economy and specifically to talk about jobs and the things that we can do here in the a winning days of this congress -- wanning days of this congress to create some job opportunities. we've got some very heavy lifting here in congress in the next month and a half. everybody wants to talk about the fiscal cliff, some talk about austerity, bomb, others talk about what needs to be done to lift the debt limit. and all of these issues are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican
. >> by growing the economy. just a couple numbers. already in this meager economic recovery, we've increased revenue to the federal government by $344 billion. if we just return to a normal economy, like we had in 2007, under president bush, where proven was 18.5% of our economy, that would raise another $400 billion per year. the president's proposal right now, the highest estimated is $75 billion, a tenth of that. economic growth is 10 finals more effective at raising revenue. the problem with punishing success, the problem with the president's proposal, it will put that economic growth at risk. you know, i think the best question really is, what is the president's plan? show us your plan. this is about returning confidence to the economy. >> greta: a plan to rev up the economy or a plan for spending cuts? >> a plan for reducing the deficit which actually would return certainty to the economy, restore confidence, which would help economic growth. punishing success will not do that. temporary tax increases don't do that as well. >> greta: it's interesting, almost seems like a game of chicke
, it is not a recession, it has been building for decade-sapping the ability of the american economy to grow, and the average american to rise. to make the u.s. less competitive, less attractive for business, we go back to the fiscal cliff discussion over and over again because unless we get the economy really moving and growing in a long run, these budget problems will occur over and over again. we have identified eight areas where we find, these things would move the needle in a reasonable time frame, two or three or four years we start to see impact and there's quite bipartisan support. and the sustainable budget compromise. number 2, easing immigration now. we need a broader immigration reform, but it is one of the abilities to move rapidly to inject skill to the economy to fill jobs we badly need to fill to sustain our growth. it is not long term solution to the skill problem in america but a critical step we need to take to move the needle. we have got to simplify and realize the corporate tax code. everybody agrees. we just did a survey that included a loss of members of the general p
revive the american economy if people are expected to take, they've already had 25% pay cut in six years. that's not the american dream and that's not the way you make an economy work. they're way and you have whack. >> you raised the issue of germany. many point to it's robust economy and manufacturing sector who would resist here worker representationen oh the board of directors. how has the actual representation impacted labor strife over in europe, for example? >> you know, there is some strife, but i think there is also more of a sense that we're all in this together. as you point out i mentioned germany, but it's, you know, france all the way through the nordic countries. the other thing that's key is in a newly emerging democracy like brazil the workers through collective bargaining is four to five times the level of the united states. you have rising wages millions of brazilian workers coming into middle income status, able to buy the things they produce and a growing economy in brazil. here, the micro system of each employer trying to maximize profits at the expense of employees
this wrong, the economy is going to go south. we don't have a lot of time here. we have a few weeks to get this thing done. we could get it done tomorrow. optimistically, i don't think we are going to get it done tomorrow. >> the white house is using all social media resources to get the message out and put pressure on the republicans. >> today, i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress, write them an e-mail, post it on their facebook walls. you can tweet it using the hash tag my 2 k, not y2 k. >> the president was laughing about you the strategy, seriously effective. the my2k was one of the top trends on twitter all day long. republicans aren't too happy. they are getting outflanked. >> if the president wants to reach an agreement, he needs to be talking with the members of his own party right here in washington trying to broker an agreement, not out there firing up crowds and giving speeches. >>
that's what he's trying to do. it's hard to see where the upside is for the president if the economy slips into recession, talking about 2013 having no growth would be horrible. >> yeah, so, it's a little hard to see what the game is. as kim was mentioning, the president wants these tax increases. it seems to me we're going to go through this sort of scorpion dance the rest of the year. what did the president campaign on? what was the one thing, i think most people would say he campaigned on, that's raising tax rates on the wealthiest, the two top rates, that's the thing i think is on the table and-- >>, but the republicans put that on the table. >> and the republicans put that on the table the a through deductions and-- >> yeah. but they're willing to put that on the table. the question is, what does the president then give republicans in return, if anything? >> well, i think that's what the republicans position should be. say we have committed what you campaigned on. if you're not willing to talk about reducing spending, they are we're not going to be able to do a deal with you. an
, we had huge surpluses because of the strong economy over the 1990's and deficit-reduction plans put in place over the 1990's. the government had the choice to spend that on programs, or returned it to tax payers, and the bush administration decided to return the money to taxpayers. over the following year's tax rates were lower. it was renewed in 2010 in a tax deal between president obama and congressional republicans at a time when the economy was weak and the feeling was they could not take an increase in taxes. host: what was the desired effect and did it happen? he called the desired effect was to give people more of their income back, and that happened, as wealthy people got more income back, more moderate income earners got some back. one of the questions is how it effects economic growth, and it is an unresolved area of economic research. did it did help the economy -- did it help the economy? it is hard to say. we had a good economy in the 2000's before the crisis. now we have a huge crisis. on balance, it probably did not help that much. host: can you calculate if jobs were
to then quickly craft a legislative deal that can stop the damage to the economy that would occur if we went off the cliff and stayed off the cliff. john boehner recognizes that the fiscal cliff is the president's leverage, but boehner believes he has leverage, too. politico reported this morning president barack obama made a demand of how john boehner near the end of their first white house meeting on the fiscal cliff, raised the debt limit before year's end. boehner responded, quote, there is a price for everything. boehner told president obama at the white house that the debt limit increase is quote my leverage. although he added that he's flexible on when it should be done. senator durbin said today that raising the debt ceiling must be part of any deal with republicans. >> i also think that the president isn't going to sign off on any agreement that doesn't include some certainty as to budgets, appropriations, dealing with our debt ceiling. we're not going to find ourselves with some big party celebrating in february and then turn around and march and have another doomsday scenario with the
. this is "the five." ♪ ♪ >> dana: congress 35 days to reach a deal and prevent the economy going over the fiscal cliff. no mystery what the issues are that must be reed. the democrats know, republicans know and so does president obama. entitlements are pushing the country toward financial ruin. here is what the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> er
. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make permanent tax cuts for 98% of the american people. >> the president would like to see it done tomorrow and would sign it right away. >> they will put for ending deduction and closing loopholes. >> republicans move a great deal. who was the first person after the election was the speaker who went down and provided the re-knew. >> they blasted the proposal to limit deductions to tell bloomberg television it's unrealistic. >> that means every hospital and university and non-for profit, the agency. across the country would find themselves on the verge of collapse. >> they had a different view when he proposed to limit not eliminate c
low. that's what our economy needs. that's what the american people deserve. >> bill: you'll see some photos of this event yesterday at the white house up on our web site at billpressshow.com. again, the president pointed out it's passed the senate. get it through the house. he's got his pen ready to go. >> obama: democrats in the house are ready to vote for that same bill today. if we can get a few house republicans to agree as well, i'll sign this bill as soon as congress sends it my way. i gotta repeat, i've got a pen. i'm ready to sign it. >> bill: he held up his pen. i've got a pen. he says a few house republicans that's right, you don't need that many but you need to bring it up for a vote. boehner won't do it. why won't boehner do it because boehner says that still says -- he's just dead ass wrong he still says that raising taxes on the wealthiest of americans on the 2% would cost -- would kill jobs and kill the economy and we know from the eight years under bill clinton proven just the opposite. in the
a downturn in the economy in january, then the republicans are going to say, see, we told you, even though they created the problem. >> david cay johnson, great to have you with us. that's "the ed show." "the rachel maddow show" starts right now. good evening, rachel. >> good evening, ed. thanks, man. thank you for staying with us for this hour. the acting director of the cia met for more than an hour with senators john mccain and lindsey graham along with the u.n. ambassador susan rice. the three senators emerged from the meeting saying they were honored by the fact that the cia director would meet with them, just three random senators and not in some official capacity testifying before committee on the hill. they appreciated the fact that the administration and the intelligence community was going to such lengths to e swaj their concerns to personally answer their questions about the libya attack in a closed-door meeting with the cia director himself, even though these are just three random senators. the senators said their questions were answered as reasonably could be expected a
the economy if you raise tax rates on the top two rates. it will hurt small businesses, hurt our economy. >> so let's bring in the political panel on this topic for today. erin mcpike back with us and david goodfriend, democratic strategist and contributor. thank you for sticking around. let's bring in the element of tom cole, a republican of oklahoma. doesn't get more red than oklahoma. let's play what he said regarding support and passing the middle class tax cut. >> in my view, we all agree we won't raise taxes on people making less than $250,000. we should take them out of this discussion right now. >> what is the issue with that? >> well, what congressman cole has really shown is that there's an imminent amount of good logic and sense in preserving the current tax rates for 98% of americans for a lot of reasons. one of which is the gdp dependent on consumer spending. 0% of the economy is consumer spending. if you take $2,000 on average out of pockets of consumers, it's going to hurt the economy so right away you have a low tax good economic rational behind it but there are politics
and is fair. that would be good for businesses, for our economy, for future generations, and i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're going to have to raise a little more revenue. we have to cut spending we don't need. and if we combine those two things, we can create a path where america's paying its bills while still being able to make investments in the things we need to grow like education and infrastructure. we know how to do that but in washington nothing's easy so there's going to be prolonged negotiations and all of us are going to have to get out of our comfort zones to make that happen. i'm willing to do that. i'm hopeful that enough members of congress in both parties are willing to do that, as well. we can solve these problems, but where the clock is really ticking right now is on middle class taxes. at the end of the year, middle class taxes currently in place are set to expire, middle class tax cuts surge in place are set to expire. there are two things that can happen. if conditioning does nothin
the world as a very effective way of ensuring a decarbonization market driven way of our economy, and we've just published an energy bill and to let the control framework that would allow for new renewable investment to the rest of this decade. the industry has that, alongside the cast strategy. on the decarbonization target, as they say we're going to take a power in the bill to set a target but that would be a decision for after the next carbon budget which happens in 2016. that is a perfectly sensible and rational approach to take. >> cannot congratulate the chancellor on his statement that fair, transparent -- [shouting] >> is not only not rising but is falling in every year of this parliament? with 19 days to christmas, mr. speaker, can ask the chancellor which the family-friendly measures whether scrapping the fuel duty increase, freezing tax are raising the personal allowance next year he thinks will be most benefit for the family? >> what i would say to my honorable friend is with have to take some difficult decisions. we've had to take difficult decisions on welfare of bring alo
disaster not only for our country, but the worldwide economy. >> so defaulting on the credit is unacceptable to you? >> i don't think -- i don't think it's a question that's even on the table. >> failing to raise the debt ceiling is not even on the table. that's what john boehner said last january. and yet just a few months later, with that voting record and with that stated understanding of how bad it would be for this country to not raise the debt ceiling, there was john boehner, leader of the congressional republicans, threatening to not raise the debt ceiling. e threatening default after decades of voting to raise the debt ceiling, no questions asked under president bush, under president obama the republicans decided they were not going to do it anymore. right around this time last year, republicans threatened to let the country go into default unless president obama met their demands. they explicitly recognized it would cause harm, but they were happy to do that. they were willing to incur that it harm. to inflict that harm on the country in order to get other stuff that
and congress have just one month to prevent tax hikes and spending cuts that really could send the economy according to some right back into a recession. we are glad you are with us on this friday, everybody, i'm jenna lee. jon: i'm jon scott. president obama offering his opening bid to avoid the fiscal cliff but it's not going over well at all with republicans. house speaker john boehner saying no progress has been made in negotiations. mike emanuel is live on capitol hill now. what are the republican complaints, mike, and how are they pushing back at the president? >> reporter: senator john john cornyn who is a member of the rupp leadership says he thinks president obama wants to go over the fiscal cliff by proposing higher taxes, no spending cuts and no plans to save entitlements. with president obama going to pennsylvania today, the house republican whip, kevin mccarthy's office put out a video profiling a small business nearby in pennsylvania that would get hurt by a tax hike. >> i'm jerry gorsky from an engineering company. however good or bad we do is my income. this notion of $250,
. it's not going to inject demand into the economy that will create jobs. this is a bad deal all around. what we need is to make a judgment about what we do. does it reduce the deficit? >> joining me now is senator sherrod brown. senator, good to have you with us tonight. your comments on what nancy pelosi has to say about revenue. >> she's right. you look at a little history in the 1990s. the upper one or 2 or 5% were paying more in taxes. just a little bit more. we had 21 million private sector job creation, net job creation. when george bush cut taxes on the wealthy in 2001 and 2003, we've had no real job growth and no wage growth during this past decade. we're finally now after ten straight years of manufacturing job decline hitting places like toledo and cleveland and cincinnati particularly hard, we're seeing now in the last two years after the auto rescue, after we're doing some of the right things here, we're seeing job growth. i agree with what nancy pelosi said. history improves itself. >> so based on history, this is about math and not ideology. the sense i get on the hill to
to stimulate the economy. if we're going to pick a store, let's go to costco which is known for treating its workers better than basically any general retailer in the country. i've been covering labor for a few years for "the new york times" and a few years ago, several people were saying, you should take a look at costco. they really do remarkable job in how they treat their workers. so i went out to their headquarters in washington. i spent a day with that gentleman next to biden, mr. seni fwrks senigal, co-founder of the company. his father was a steelworker. he grew up in pittsburgh. i figured he was sympathetic to unions. he grew up catholic. he said, no, no, that's not why i treat our workers well. we're not the little sisters of the poor. he said it's good business. he said treating workers well mean they work hard for you, there's far less turnover. the typical costco worker who's been there more than a year stays on average 17 years. costco is known for having far less theft than most retailers. and he says when someone has to put the huggies on the shelf in the middle of the night
the summer months where he focused on obama and the economy. i want to talk about, because i can't resist it, it's almost 2013. i think we're well within the bounds. the virginia governor's race. bill bolling, the lieutenant governor, dropped out in twain to make way for bob mcdonnell, currently the governor, dropped out again this week to make way for state attorney jgeneral ken cucinell cucinelli. you have the best friend of bill clinton terry mcauliffe as the democratic nominee. some people are painting this as a tea party against the clintons in mcauliffe. things can still happen. it looks like a fascinating race. >> chris, as you know, political reporters, we only have two gubernatorial races to cover. we give a lot of attention to virginia and new jersey. what's fascinating about virginia, since i've been covering politics on the national stage, the off-year election has proved to be a template if that party that's out of power wins. 2005, tim kaine ends up running a race, appealing to independents, sfresing his religious faith. actually kind of having a very soft appeal to a lot of fo
of the economy that george w. bush left him with! he didn't come in and say gee the first thing i want to do is raise food stamps, a lot has been the unemployment insurance. if has been to address the worst financial crisis we've had since the great depression. >> since herbert hoover. >> the last businessman president. >> obama: both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle-class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board i'll sign this bill as soon as congress sends it my way. >> tax cuts for the 98%. slight raise in taxes for the top 2%. seems like a pretty good deal. >> stephanie: yes. oh, by the way. [ ♪ "world news tonight" ♪ ] , robert rice as usual has a great piece of why we should stop obsessing about the federal budget deficit. he knows something about something. he was around when clinton -- remember that economy? okay. he said i wish pres
without concern for america's economy or standing in the world. we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests the taxpayers shouldn't keep turning every program they can dream up. let's take a look at the so-called thelma and louise democrats so he know who he's talking about. to say they are willing to go over the fiscal cliff, we have those who say they are not willing to support any reforms to entitlements. dick durbin says he would be willing to talk about it but only after a deal is struck. >> you have a difference of opinion in all political parties. i don't know many republicans who agree with mitch mcconnell. this is the guy who said his number one political goal was to get obama out of office. i think it's all positioning. you have got a bunch of democrats and mcconnell positioning themselves for negotiation. martha: tucker, what do you think? >> i think the republicans are being outnegotiated by an incredibly aggressive democratic party. they are demanding tax hikes on highest earner. an elevation in the debt limit which is
't know, feeling better and so much of this is about how we feel about the economy. >> oh, yeah. that's right. investors may not like it, but consumers love it. their confidence, the highest level in many, many months. still below 90, which is really the point at which you see a really strong and robust economy. but the fact that consumer confidence has been doing so much better, it's very important. now, here is possibly a source of their optimism. 20% of consumers expect more jobs in the next six months and that would be a cause for much optimism. >> shepard: yes, it would. the fears about europe's debt crisis clearly eased a bit 'cause there is another deal to provide aid to greece. >> more money for greece, $57 billion. it took three weeks to come to this conclusion for european and global leaders to say hey, we'll give you the money. it will come in four installments and if they didn't get this, they would be in bankruptcy. as you know, that would be bad for the entire e.u. that country, greece, has an unemployment rate of 25%. 25. >> shepard: big number. >> it's a very big numbe
was outraged by his suggestion. >> you're not going to grow the economy if you raise tax rates on the top two rates. we're willing to put revenue on the table as long as we're not raising rates. >> but that didn't stop congressman cole from going on hardball today continuing to sell the idea of making peace with the president for the sake of 98% of american taxpayers. >> if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, i think that is a point we should agree op. >> tom cole also made it clear he is still a boehner loyalist. >> i fully support him. what he's trying to achieve, which is no rate increase, but try and meet the president partway on revenue. i support that. i suspect he'll negotiate a good deal. at the end of the day, he'll come back and ask us to support him. i'll probably help him again. >> okay, so, what did boehner loyalist tom cole do after they said that on "hardball" at 5:00? now, remember, john boehner heard him say that on "hardball" or his staff instantly reported to him exactly what tom cole just said o
about the u.s. economy. i think consumers are where it's at. we just got to get over this fiscal cliff thing. >> jonathan capehart. >> i learned president morsi of egypt is fanatical about "planet of the apes." >> that is really all you need to know. jonathan, thank you so much. rana, steve, michael and everybody, thank you for watching today. if it's "way too early," it's "morning joe." chuck todd is next with "the daily rundown." >>> together again. mitt romney makes his way to the white house. it's not exactly the way he wanted to get there. but can something constructive come out of a private lunch between president obama and the man he defeated just three weeks ago? that's right. that was just three weeks ago. >>> also this morning, a deep dive into america's longest war. look into lessons learned and the sacrifices made by troops at one combat outpost. tell us about what's been accomplished and what's not in more than a decade of fighting. as the country wakes up obsessed with numbers and winners, for the lottery, that, we've got a very important update on the election night numb
on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do
sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." you know who's coming on to me now? you know the kind of guys w
. i am glad that the people that are in economy party on capitol hill have hearts as big as a montana sky because i'm sure they said, hey, it's cool. we all make mistakes. all of us on capitol hill, we all make mistakes from time to time and it's cool. so how did this work out after she said she was sorry? >> there's still another chance. ambassador susan rice is heading back to capitol hill today. >> i want to know what happened. >> well, i will tell you. she continued to defend her response on september 11th attack on the u.s. consulate in benghazi as a top pick to replace secretary of state hillary clinton. rice faces sort of an uphill battle because she failed to win over her harshest republican critics yesterday. >> i don't think it's an uphill battle. >> unless you want to be secretary of state for greenvil greenville, south carolina or mesa -- >> she requested this meeting was with specifically senators lindsey graham, kelly ayotte and -- >> they were upset. john mccain over the weekend. >> john mccain backed up. >> so it's really cool when she said i'm sorry. >> she did the br
productivity which creates higher potential for the future of the economy rather than just big homes. >> reporter: now, economists who favor lowering the cap on mortgage debt eligible for a deduction from a million dollars to $500,000 say it could help reduce the deficit and keep interest rates low and, scott, that could help the housing market all by itself. >> pelley: dean, thank you. just ahead, researchers have discovered a piece of world war ii history off the coast of florida. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include ch
--they don't want the economy to get better. >> caller: you're right, stephanie. when there were enough things to happen in the campaign to indicate to me in the house of representatives or the senate that they didn't want the economy to improve. because they thought that that would be too much of a plus for the president. the country is more important. you got to go back to what mccain and obama did in september of 2008. when they came in and said to us, we're going to go off the cliff at that time. that's why we voted to bail out the banks even though many of them deserved to be kicked out. the fact is that both mccain and obama rose above the clatter of the campaign. mid-september. they voted for and supported even though they held their nose they did it. they did it. we need that same thing to happen right now to move above the political arena and make some decisions for the common good of america. >> stephanie: yep. >> caller: and help them across. i think it can be done. >> stephanie: representative. >> caller: i'm sorry. >> stephanie: go ahead. >> caller: i don't think the presid
. >> wherever our trades negotiation the economy comes to life. norfolk-suffolk, one line, infinite possibilities. >> additional corporate funding is provided by boeing. additional funding is provided by the anenburg foundation, the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. once again, live from washington, moderator gwen ifill. gwen: good evening. perhaps you took a break for the holidays. perhaps you gave thanks that the election was ofrlte then you dialed back in this week and discovered, no, we have apparently just entered a new phase in a political year that never ended. two big stories this week -- the impending fiscal cliff and the washington debates over who will succeed hillary clinton as secretary of state. first to the fiscal cliff. at the end of the year the buescher ra tax cuts will expire and the first wave of $1.2 trillion in spending cuts is scheduled to kick in. c.e.o.'s and economists alike are worried this will send the economy spiraling back into recession. the solution, $1. trillion in new reve
will have a fundamentally adverse impact on the global economy spent it's doing it now with china and japan. that's interesting, as you've got two of the biggest economies in the world in a nightmare situation that raises a fundamental question, and it's of ending this myth that economics draws people closer together. part of the title today is "mischief or miscalculation?." during the cold war, what was interesting is you can have 17 different spheres of contact with the soviets and if two and if to implement you it's about 15 others. there was a lot of heavy investment figuring out how to communicate and how to coordinate, how to deal with escalation, how do you talk about that. and in this era, when i look at the amount of time, particularly in the obama administration, even more so than the george w. bush of administration, you look at senior officials who go to asia, throughout the region, and also the discussion and attempt to courtney with china. there seems to be a lot of that to try to coordinate. but again coming back to jim steinberg was the fourth member of this panel would happ
on with speaker boehner? he went off his own cliff today. we'll tell you why he's ready to hold the economy hostage again. >>> and what's really behind john mccain's relentless and baseless attack on susan rice? former governor of new mexico and ambassador to the u.n., bill richardson, joins us live. >>> plus, remember this guy with the romney tattoo? he might just be the smartest man in the republican party today. >>> and we'll tell you what joe biden bought at costco today. you'll love this video. you're watching "politicsnation" on msnbc. >>> this is interesting. president obama is going to have lunch with mitt romney and you thought you had an awkward meal with your family on thanks giving. what i don't get is he said nobody should get a free lunch and now he's going to the white house to have a free lunch. [ male announcer ] with 160 more miles per tank, the distances aren't getting shorter. ♪ the trucks are going farther. the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. ♪ ♪ [ male announcer ] while you're
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